RICS launch guide to help small businesses manage their property assets

The Royal Institute of Chartered Surveyors (RICS) has today launched a guide to help small businesses take better control of their finances through managing their property assets differently.

Property costs – such as business rates and rent – are one of the most significant expenses incurred by SMEs and failure to take professional advice as to how to manage them could costs businesses thousands of pounds.

The guide, which is free of charge for business owners, is available from today and covers all aspects of the property process. It has been endorsed by the Federation of Small Businesses, the British Retail Consortium and the Association of Town and City Management.

John Walker, National Chairman, Federation of Small Businesses said: "The Federation of Small Businesses (FSB) recommends the RICS Small Business Property Guide as an invaluable resource to all business owners and would strongly encourage small and medium sized businesses to use it to manage their property assets more profitably."

Meanwhile, a spokesperson for the Association of Town and City Management said: "Property can be a daunting prospect for any small business owner due to a numerous legal concerns and costs involved. Therefore, we welcome the RICS Small Business Property Guide and encourage our members to make it available to local businesses, to help manage their property assets and drive a sustainable local economy."

Included within the guide is advice on:

•             Finding the right premises

•             Business rates

•             Tax allowances on property

•             Rent reviews

•             Valuations

Paul Bagust, RICS Associate Director, said: “Times are still hard for many small businesses across the UK. Property costs are both one of the biggest overheads and one of the most complex assets to properly manage and we hope that this guide can prove an invaluable resource.”

The guide is available at www.rics.org/smeproperty